Tesla has begun accepting Cybertruck trade-ins more than a year after deliveries began, as the electric pickup truck struggles with sluggish demand and rapid depreciation, according to owner reports and Tesla’s trade-in system.
The move marks a shift in Tesla’s approach, which previously excluded the Cybertruck from its trade-in program. According to a post on the Cybertruck Owners Club, a Tesla 2024 Cybertruck AWD Foundation Series initially sold for $100,000 is now receiving trade-in offers as low as $65,400 after only 6,000 miles — a 34.6% decline in value within a year.
See also: Tesla Cybertruck Inventory Surges Past 10,000 Units Amid Slowing Demand
In comparison, industry data shows that pickup trucks typically lose about 20% of their value after one year, with a 34% drop usually occurring only after three to four years.
Tesla has not publicly explained its previous refusal to accept Cybertrucks as trade-ins, but analysts suggest it may have stemmed from internal concerns about the vehicle’s steep depreciation and the potential for excess inventory. Reports indicate unsold Cybertruck units have been accumulating on lots for months, prompting Tesla to offer significant discounts to move them.
See also: Tesla Offers One-Year Free Full Self-Driving Trial for Cybertruck Owners
The Cybertruck, launched in late 2023, has faced criticism for falling short of initial expectations on price and performance. While Tesla once touted over 1 million reservations, only around 40,000 customers are believed to have followed through with confirmed orders.
Tesla’s online trade-in tool now provides estimates for Cybertrucks, although the company notes these offers may be higher than the final purchase value. The update is seen as part of a broader effort to manage excess inventory and support customers reconsidering their Cybertruck ownership.
